R-017-23 Amending the Budget for Fiscal Year Commencing July 1, 2022 and Ending June, 2023

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1 RESOLUTION NO. R-17-23 2 3 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, AMENDING THE BUDGET FOR FISCAL 4 YEAR COMMENCING JULY 1,2022 AND ENDING JUNE 30,2023 5 WHEREAS, on May 17, 2022 the City of Colton City Council adopted the budget for the 6 fiscal year commencing July 1, 2022 and ending June 30, 2022; and 7 WHEREAS, the City conducts regular reviews of their budgets as it is fiscally prudent to 8 9do so; and 10 WHEREAS, based upon the review conducted through December 31, 2022 and reviewed 11 by the Finance Committee on February 27, 2023, the City desires to amend the budget; 12 NOW, THEREFORE, THE CITY COUNCIL DOES HEREBY RESOLVE, 13 DETERMINE AND ORDER AS FOLLOWS: 14 SECTION 1. The revised budgetary projections reflected on Exhibit A attached hereto and 15 incorporated herein by reference, are hereby approved. 16 SECTION 2. The General Fund Transfer (the annual administrative transfer from the 17 Electric Utility Fund to the General Fund) shall not exceed 20% of the Electric Utility revenues in 18 accordance with the Flow of Funds Ordinance. The amount of the transfer was reviewed during 19 the mid-year process, and the Council hereby authorizes the General Fund Transfer to be reduced 20 to $8,500,000, or 14.1%. 21 SECTION 3. The positions identified in the authorized positions list are hereby authorized 22 for funding, and any vacancies are hereby authorized for recruitment and appointment in 23 accordance with the City's Personnel System Rules and Regulations. 24 SECTION 4. Under the direction of the City Manager and Approved by the City Council, 25 the Finance Department may make the reallocation of appropriations within the funds as defined in 26 Exhibit A. 27 SECTION 5. All recitals stated above are true and correct. Staffs presentation and all of 28